(CBS DETROIT) – Ford and its Canadian auto workers have finalized their contract.

This comes after the union agreed to new terms of a three year contract.

Ford also agreed to invest roughly $1.5 billion dollars to build battery-electric vehicles in the country.

The move follows Ford’s announcement to cut thousands of jobs in the U.S.

© 2020 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.